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Paul [167]
2 years ago
5

In a budgeted income statement, _________ is subtracted from sales to arrive at gross margin. cost of goods sold interest expens

e selling and administrative expense depreciation expense Knowledge Check 02 Smarton Company is in the process of preparing its budgeted income statement. It has determined its estimated gross margin to be $90,000. The company also expects to incur selling and administrative expenses of $30,000 and interest expense of $12,000. What is Smarton's budgeted net income?
$18,000
$30,000
$48,000
$60,000
Business
1 answer:
Licemer1 [7]2 years ago
5 0

Answer:

$48,000

Explanation:

The computation of the  budgeted net income is shown below:

= Estimated gross margin - incurred selling and administrative expenses - interest expense

= $90,000 - $30,000 - $12,000

= $48,000

In order to find out the budgeted net income  we simply deducted the total expenses incurred from the estimated gross margin

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Lexington Company engaged in the following transactions during Year 1, its first year of operations. (Assume all transactions ar
sleet_krkn [62]

Answer:

$2,115

Explanation:

Lexington Company's Year 2 net cash flow from financing activities = cash received from issuing stocks minus bank loan payments - distributed dividends

net cash flow from financing activities = $1,250 (from additional stock) - $1,825 (bank payments) - $1,540 (dividends paid) = $2,115

8 0
2 years ago
Land held for possible plant expansion would be included as an operating asset when computing return on investment (ROI).
Softa [21]

Answer:

B. False

Explanation:

Land held for possible plant expansion would NOT be included as an operating asset when computing return on investment (ROI).

Return on investment (ROI) is used to measure the profitability of an investment. It helps to compare the gain or loss from an investment in relation to its cost.

Return on investment can be used to determine

1. Profitability of a stock investment,

2. Profitability of the purchase of a business investment

3. Profitability of a real estate business

ROI = Net return / cost of investment × 100

Net return= Final value of investment - initial value of the investment

6 0
2 years ago
What was the opening price of Dow Jones Industrial Average on May 30, 2017 in the format of XXXXX.XX?
Gemiola [76]

Answer:

Dow Jones Industrial Average on May 30, 2017:

According to valueline.com, the Dow Jones Industrial Average on May 30, 2917 closed at 21029.47 Down 50.81.

Closing index = 21029.47

plus down movement =50.81

Opening index = 21080.28

This implies that the opening price was 21080.28.

Explanation:

The Dow Jones Industrial Average measures the stock performance of 30 large companies listed on stock exchanges in the United States.  It is a stock price index.  Others are the S&P 500 Index and the NASDAQ.

The opening index represents the day's beginning average price before trading started.  During trading, the price must have seen variations, up and down movements.  But, at the end of the day's trading, the closing price was reported to be 21029.47 Down 50.81.

From this closing index report, one can infer by adding back, that the opening price was above the closing price by 50.81 or about 51 basis point.

6 0
2 years ago
Crane Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available
wlad13 [49]

Answer:

c) $222,500 $313,500

Explanation:

Calculation for cost-to-retail ratio

COST

Beginning inventory $ 30,000

Add: Purchases $190,000

Add: Freight-in $2,500

Cost=$222,500

RETAIL

Beginning inventory $ 45,000

Add: Purchases $260,000

Add: Net markups $8,500

Retail = $313,500

Therefore the cost-to-retail ratio will be $222,500 $313,500

4 0
2 years ago
Assume that the bet paced in between Oscar and Vinny is legal in the state in which they live. Can Maria (or Fresh Air Fund) col
dem82 [27]
The answer is D!!!I hope this helped
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